Loan Options

FHA Insured Reverse Mortgages

Borrowers must be 62 years of age or older, however a younger non-borrowing spouse has additional protections offered by FHA once the borrower vacates the property

Own the property and have considerable equity or use a reverse mortgage to purchase your retirement home

Occupy the property as your principal residence

Not be delinquent on any federal debt

Have financial resources to continue to make timely payment of financial obligations such as property taxes, insurance and Homeowner Association fees, revolving debt etc. Plus demonstrate sufficient residual income to qualify for the mortgage.

Participate in a consumer information session given by a HUD- approved HECM counselor

Single family home or 2-4 unit home with one unit occupied by the borrower

HUD-approved condominium project

Manufactured home that meets FHA requirements

Income, assets, monthly living expenses, and credit history will be verified and used for qualification purposes